Workers cross the Millenium Bridge during the morning rush hour in the City of London, December 16, 2014.REUTERS/Toby Melville
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The Bank of England gave Britain's state-backed lenders a narrow pass in its debut annual stress tests Tuesday, but warned that next year banks would face tougher checks of their capital strength and international exposure.Shares in Lloyds were up 0.6 percent at 09:38 GMT while Royal Bank of Scotland shares were down 0.4 percent.Britain decided to introduce annual stress tests of its banks in the wake of the 2007-09 financial crisis which required taxpayers to pump 66 billion pounds into RBS and Lloyds to keep them afloat.This year's stress tests required banks to have a core capital ratio of 4.5 percent but from next year, the Bank of England said that it would also assess banks' leverage ratios, which reflects their level of indebtedness.Britain's other large banks, HSBC, Standard Chartered, Santander U.K. and Barclays, scored comfortably in the test with pass rates of between 7 and 8.7 percent.
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